When Hollywood power couple Jennifer Lopez and Ben Affleck purchased their sprawling $68 million estate in Beverly Hills last May, they envisioned turning the 38,000-square-foot mansion into their dream home.
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But less than a year later, the former lovebirds find themselves in a messy divorce – and stuck with the high costs of maintaining the property until a buyer comes along.
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According to data issued by Realtor.com last week, Lopez, 55, and Affleck, 52, are on the hook for a jaw-dropping $283,666 per month to keep the luxurious home running. Broken down, the fees include:
– Mortgage Payment: The couple took out a $20 million mortgage. Depending on the interest rate, their monthly mortgage payment could reach up to $200,000.
– Property Taxes: At California’s property tax rate of 0.75%, the annual bill is $476,000, or about $39,666 per month.
– Security and Maintenance: Privacy and security for the two stars cost roughly $340,000 a year, which is $28,333 per month.
– Homeowner Association (HOA) Fee: Just $667 per month.
– Electricity: Powering the estate, including heating, cooling, and other high-end features, could cost between $3,000 and $10,000 per month, Realtor said.
– Water: With 24 bathrooms, a heated pool, spa, and five acres of landscaping, water usage could run from $500 to $2,000 per month.
– Gas: Heating the property, cooking, and outdoor entertaining add another $500 to $3,000 to the monthly expenses.
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In May of last year, the superstar couple purchased the estate for $60.8 million. According to the Realtor report, they poured millions more into a renovation, transforming the already huge home into a 12-bedroom, 24-bathroom compound with a separate 5,000-square-foot guest penthouse, caregiver house, 12-car garage, and more.
Their romance unraveled just 12 months later. In July, they listed the property for sale at $68 million – but some industry insiders are questioning whether the asking price is too high.
“That house is actually worth between $40 and $50 million,” an anonymous source told NewsNation. “It’s in a terrible location.”
The source continued, “most homes in the area are from the 1970s and are worth between $5-10 million. This is just a huge white elephant. It’s garish, too big and dated with amenities that are just silly and not necessary (like an indoor sports complex).”
However, the property’s listing agent, Santiago Arana of The Agency, defended the $68 million asking price to FOX News, describing the home as “spectacular” and “priced really well.”
According to FOX News, the real estate agent expects the 5-acre property to sell near its current asking price before the end of the year, noting that it has attracted many serious buyers since it was listed.
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He described the home as “unique,” with amenities and features that set it apart from other luxury properties. The home has an indoor sports complex with basketball and pickleball courts, a boxing ring, and additional recreational features.
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This article What Happens To Jennifer Lopez And Ben Affleck’s $283,666 Monthly Mortgage Post-Divorce? originally appeared on Benzinga.com
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